Noble Midstream Partners LP (NBLX) Receives Consensus Rating of “Buy” from Brokerages

Noble Midstream Partners LP (NYSE:NBLX) has been given a consensus rating of “Buy” by the twelve brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $57.50.

NBLX has been the topic of several research reports. Bank of America upped their price objective on shares of Noble Midstream Partners from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird set a $59.00 price objective on shares of Noble Midstream Partners and gave the company a “buy” rating in a report on Friday, August 10th. Citigroup upped their price objective on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Wells Fargo & Co lowered shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, September 24th. Finally, Credit Suisse Group upped their price objective on shares of Noble Midstream Partners from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday.

Shares of NYSE NBLX opened at $38.11 on Friday. Noble Midstream Partners has a 1-year low of $33.17 and a 1-year high of $57.98. The stock has a market cap of $1.66 billion, a PE ratio of 9.30, a P/E/G ratio of 0.71 and a beta of 1.28. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43.

Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings data on Thursday, November 1st. The energy company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Noble Midstream Partners had a net margin of 38.18% and a return on equity of 15.89%. The firm had revenue of $139.16 million for the quarter, compared to analyst estimates of $119.25 million. Equities analysts anticipate that Noble Midstream Partners will post 3.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Monday, November 5th will be given a dividend of $0.5597 per share. The ex-dividend date of this dividend is Friday, November 2nd. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 5.87%. Noble Midstream Partners’s payout ratio is presently 54.63%.

Several large investors have recently bought and sold shares of the company. BP Capital Fund Advisors LLC bought a new stake in shares of Noble Midstream Partners during the third quarter worth about $1,454,000. Tortoise Index Solutions LLC increased its position in shares of Noble Midstream Partners by 57.1% during the third quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after acquiring an additional 1,361 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Noble Midstream Partners by 17.0% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 2,603,168 shares of the energy company’s stock worth $92,178,000 after acquiring an additional 378,046 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Noble Midstream Partners by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 461,260 shares of the energy company’s stock worth $16,333,000 after acquiring an additional 21,938 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Noble Midstream Partners during the third quarter worth about $1,593,000. 56.37% of the stock is owned by institutional investors.

Noble Midstream Partners Company Profile

Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. The company provides crude oil, natural gas, and water-related midstream services. The company operates in the Denver-Julesburg Basin in Colorado and the Delaware Basin in Texas. The company was founded in 2014 and is based in Houston, Texas.

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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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